Interview with Victor Alves of Vecno Capital

Passive Mobile Home Park Investing

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with Victor Alves of Vecno Capital. Victor shares his thoughts on why paying attention to the small details in regards to mobile home park property management is super important. Andrew and Victor also discuss the most important things they think passive investors need to look out for when investing into mobile home parks. Victor shares why budgeting out repairs ahead of time are important in the real estate industry and specifically mobile home park investing.

Victor and his wife Nina Alves are real estate entrepreneurs. Together, they founded Vecno Capital which is a vertically integrated real estate investment company. They have experience in managing and acquiring investment properties such as multi-family apartments, manufactured housing communities and single family homes.

***Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes. ***

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 2,000 lots under management. His team currently manages over 30 manufactured housing communities across more than ten states. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.

Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew's team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.

Would you like to see mobile home park projects in progress? If so, follow us on Instagram: @passivemhpinvesting for photos and awesome videos from our recent mobile home park acquisitions.

Talking Points:

00:21 - Welcome to the Passive Mobile Home Park Investing Podcast

01:27 - Victor’s history and journey into the mobile home park industry

03:12 - His first mobile home park related education

04:20 - Victor’s portfolio

05:25 - The toughest hurdle

06:26 - Execution and filling in vacant lots

07:15 - Victor’s process of finding used mobile homes

08:41 - Vecno Capital operations/ property management

10:10 - Finding MHP deals

11:00 - Comparing single family rentals to mobile home parks

12:52 - The most important things passive investors need to look out for

14:20 - Utilities: public versus private

15:37 - Victor’s perfect mobile home park

16:54 - Mistakes to learn from

21:39 - The future of the mobile home park industry (in the next five to ten years)

23:00 - What makes Vecno Capital different

24:21 - Conclusion

Links & Mentions from This Episode:

Vecno Capital: https://vecnocapital.com/

Victor Alves, LinkedIn: https://www.linkedin.com/in/victoracalves/

Keel Team's official website: https://www.keelteam.com/

Andrew Keel's official website: https://www.andrewkeel.com/

Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel

Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

“I do multifamily as well because I love that asset class, but my focus and heart is in mobile home parks.” - Victor Alves

“Like with most people, the toughest part is infill.” - Victor Alves

“Depending on the age, you’ll see a lot of maintenance. ‘Cause when you’re a new owner, you want everything fixed.” - Victor Alves

“You have to learn how to be flexible but at the same time, don’t let it slide too much so it doesn’t become a habit.” - Victor Alves

“Understand the asset. Understand the location. What’s the driver? What’s driving the economy in those cities?” - Victor Alves, on what passive investors need to know